Ownership & Investors

It was natural for leading Insurance companies to participate in the equity holding of the Depository because of the loss ratio statistics of the Nigerian Insurance Industry, which shows that valuables worth more than N1 billion are consumed by fire annually. Hence 55% of the paid-up capital of Montgomery was subscribed by the blue chips Insurance companies of Nigeria some of them partly or wholly owned by the Federal Government of Nigeria. The Insurance companies who are shareholders of Montgomery are:- Nigerian Re-Insurance Corporation Plc NICON - National Insurance Corporation of Nigeria Niger Insurance Plc . Great Nigeria Insurance Company Plc . British-American Insurance Co. Plc Crusader Insurance Company Plc Most of these Insurance Companies are represented on the board of directors of Montgomery. The balance of 45% of the paid-up capital of Montgomery was subscribed by other Nigerian investors.

 

Board of Directors

Chief G. K. Animashaun  -       Chairman
Ms I. Aboderin                  -       Vice Chairman
Chief Fabyan                   -       Member
Dr (Mrs) C. Ekesi             -       Member
Senator F. Bajomo           -       Member
Mr. S. Marinho                 -       Member
Sir F. S. Ugwuja              -       Member
Mrs. A. Ojo                      -       Member
Mrs. F. S. Iroye                -       Member